| td284 |
Edmunds has this lease deal listed. The one on the Acura site is a bit different.
Leasing
Start: 11/02/2004 End: 01/05/2005
$489 Monthly Payment
42 Month Term
$999 Down Payment
$500 Security Deposit
12000 Annual Mileage
Restrictions: Lease based on a 2005 MDX Touring with Navigation (model #YD1885JNW).
Comments: Incentives may vary see your local dealer for details. $2583 total due at signing. Tax, tags and insurance are extra.
That works out to a pretty good deal.
:2: |
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| JeffK |
Dear td284:
You posted:
"Leasing
Start: 11/02/2004 End: 01/05/2005
$489 Monthly Payment
42 Month Term
$999 Down Payment
$500 Security Deposit
12000 Annual Mileage
Restrictions: Lease based on a 2005 MDX Touring with Navigation (model #YD1885JNW).
Comments: Incentives may vary see your local dealer for details. $2583 total due at signing. Tax, tags and insurance are extra.
That works out to a pretty good deal."
First, $999 + $500 = $1499 not $2583. What does the difference of $1084 represent?
Start:11/02/2004 end: 01/05/2005: Is this the time period for this lease deal?
Seems almost too good to be true!
To double check go to: http://www.leaseguide.com/calc.htm
JeffK |
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| sigmachi96 |
The difference is the destination charge and 1st months payment
595+489 = 1084
This seems like a great lease deal for a 05 MDX Touring/Nav |
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| JeffK |
From Edmunds:
"$489 Monthly Payment Calculate Other Monthly Payments
42 Month Term
$999 Down Payment
$500 Security Deposit
12000 Annual Mileage
Restrictions Lease based on a 2005 MDX Touring with Navigation (model #YD1885JNW).
Comments Incentives may vary see your local dealer for details. $3083 total due at signing. Tax, tags and insurance are extra.
Lease based on a 2005 MDX Touring with Navigation (model #YD1885JNW)."
The difference between $999 + $500 = $1499 and $3083, $1584 is a CAP COST REDUCTION better known as a down payment.
Thus the actual cost is $489 + $37 ($1584 divided by 42) + $42 (taxes @ 8%) = $586 a good deal but not a great deal.
For example I am currently paying $497 for 48 months, 12000 miles on my base MDX - nothing up front. The difference is $89 a month or $3738 over 42 months.
But my '03 was leased at MSRP and the '05 are discounted.
So you should be able to do a bit better.
This $489 is a good starting point. With hard negotiations, you should be able to do better!
Good Luck!
JeffK |
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| td284 |
quote:
Originally posted by JeffK
From Edmunds:
Comments Incentives may vary see your local dealer for details. $3083 total due at signing. Tax, tags and insurance are extra.
Lease based on a 2005 MDX Touring with Navigation (model #YD1885JNW)."
The difference between $999 + $500 = $1499 and $3083, $1584 is a CAP COST REDUCTION better known as a down payment.
The $3083 you got is because you are in NY, and the security is higher to cover the Vicarious Liability Laws (leasing companies being accountable for accidents).
I think sigmachi96 is right, the $2583 due at signing (non-NY) may be the down payment (999)+ first payment (489) + security (500) + destination or acquisition fee (595). In NY, the security is probably $1000.
LeaseGuide.com rates it Good (lowest would be $435 and highest $669). The offer is good until 1/5/05. And JeffK is right, that's a starting point for a negotiation. :6: |
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| JeffK |
Dear td284:
You posted:
"The $3083 you got is because you are in NY, and the security is higher to cover the Vicarious Liability Laws (leasing companies being accountable for accidents)."
You got me thinking - is Edmunds that smart to change the bank fee depending on where you live????
Just went to Edmunds and changed the zip code to Edmonds, Washington - 98020.
Here are the results:
"$489 Monthly Payment Calculate Other Monthly Payments
42 Month Term
$999 Down Payment
$500 Security Deposit
12000 Annual Mileage
Restrictions Lease based on a 2005 MDX Touring with Navigation (model #YD1885JNW).
Comments Incentives may vary see your local dealer for details. $3083 total due at signing. Tax, tags and insurance are extra."
Exactly the same using my zip code in New York, 11050.
BTW, in New York Honda Financial charges $1000 to cover the vicarious liability that exists in New York.
Leases always are calculated on MSRP, which includes destination charges. So destination charges would be included in the basic monthly payment.
So you have $999 of which $489 is first months payment, $500 may or may not be the bank fee, which leaves the difference, $1584 as a cap cost reduction or down payment.
Did you try: http://www.leaseguide.com/calc.htm
JeffK |
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| td284 |
Hi JeffK
I'm not sure where you're seeing that info, but in Edmunds if you build and price an MDX w/Navi and put in 07422 (my zip in NJ) and then click on Incentives, you get the figures I quoted with $2583 due at signing. If you plug in 11205 (Brooklyn, where I also live) you get $3083 due at signing.
The listed deal is pretty straightforward:
NJ/ $999 down+ $489 first payment + $500 security +$595 acquisition or bank fee =$2583 TOTAL DUE AT SIGNING
NY/ $999 down+ $489 first payment + $1000 security +$595 acquisition or bank fee =$3083 TOTAL DUE AT SIGNING
There shouldn't be any additional down payment (or Cap Cost Reduction).
As I stated, I ran the numbers through LeaseGuide and they liked it. You're right, it is all a point for negotiation.
Tom |
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| trstack |
So, based on all those details, would we agree this seems to be a good deal?
MDX w/Nav
42 months, 12k/year (same terms as indicated above for NY State residents)
$575/month including taxes and approx $1500 in options
I'm figuring approximately an add'l $36/mo for options and $45/mo for taxes. So, $570-$575/month is reasonable, yes?
Thanks! |
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| almostx3 |
about to lease Sagebrush/Ebony Tour w/NAV
sign and drive... $ 0 out of pocket
$ 603.75(includes 7 % TAX)42mo./12k
Sounds fair but not great???
appreciate any comments or suggestions...
ATL is a tough market to crack for MDX.
thanks |
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| hackman |
| Just last week I picked up a 2005 MDX with touring, nav and dvd, 42 month lease, 12K miles/yr with $1500 down total. My monthly payment is $568. I negotiated to $1000 over dealer invoice. So my payments are cheaper and I have a dvd player. |
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| almostx3 |
looks like same payment ($1500/42=35.71 ) w/ no interest
but I miss out on DVD
hmmmmmmmmmm.
minus DVD value,for equal deal, guess my payment should be approx. $ 30-40. per mo. less??
thanks......... |
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